Flowers Foods (NYSE:FLO) 1Q17 earnings; In Line With Street Estimates

Flowers Foods (NYSE:FLO) revealed net income for the first quarter of $ 60.42 million or 29 cents per share, compared to income of $ 59.36 million or 28 cents per share, in the year-ago period.

On adjusted basis, FLO reported $ 52.64 million or $ 0.25 per share.

Headquartered in Thomasville, Georgia, the company disclosed, Sales that reached $ 1.19 billion, slipped from $ 1.20 billion a year ago.

The consensus estimates from Thomson Reuters are income of $ 0.25 per share from $ 1.21 billion in revenue. Analysts estimates generally exclude one time charges / gains.

Allen Shiver, president and CEO, said: we gained share in our key segments of the bread category. We also delivered lower production costs as a percentage of sales, the result of investments in capacity and improved manufacturing efficiency. we announced plans to change our organizational structure to support greater brand growth, accountability, operational efficiency, and our long-term strategy.

At Stockmarketdaily.co, we give investors our free and unbiased view of Stock market and also on what happening in global markets. Our team undoubtedly analyse tons of companies every day and provide their unbiased opinion on them. We are always looking over income statements, earnings, analyst updates, joint ventures and balance sheets.We don’t receive compensation from any of the stocks We write about. Also, We don’t “short” any of the stocks We criticise.